ZIGA CEO opens up about lending money to “Hia Hor”, says this year there will be turnaround profits.

2023-09-10 00:59:13

HoonSmart.com>>”Suppakit Ngamchitcharoen” opens up regarding “Zika Innovation” (ZIGA) lending “Hia Hor” a high interest rate of 15%, equal to the rate of Nonbank. It’s a normal part of trading. agree together according to agreement The picture that came out made me not dare to lend money to anyone once more. Prepare to use nearly 300 million baht of cash flow to repay part of the bonds this year. Before the due date in April 2024 This year’s performance turned around to profit from 2022’s loss of approximately 380 million baht. There is a plan to wipe out accumulated losses of 110 million baht.

Mr. Suphakit Ngamchitcharoen, Chief Executive Officer of Zika Innovation Company (ZIGA), revealed to “HoonSmart” the case of lending to Mr. Surachai. Chetchotisak (Hia Hor), with an interest rate as high as 15% per year, is considered a friend who helps each other. The interest rate of 15% is calculated according to the rate of Already “sleeping in the bank” It is considered a normal part of the trade. and it is mutual consent according to the agreement

“Actually, this deal happened a long time ago. Around the time Gratitude Infinite Company (GIFT) reported its budget for the 2nd quarter of 2023 before the split. We also have discussions with the stock exchange. Then the market saw that we were worthy of disclosure. We therefore informed investors thoroughly. This deal will be due when “Hia Hor” will repay the debt in March. 2024 is a loan for a period of 10 months with GIFT shares placed as collateral with a check in the amount of 104 million baht plus 15% interest…When there was news of a loan being given to “Hia Hor”, many people inquired. Makes us not dare to lend money to anyone once more. I feel like the picture isn’t very good.”

The company had a lot of cash flow, almost 300 million baht, so it was lent out to “Hia Hor” and the company received a reasonable return. In addition, the company plans to repay part of the debentures within 2023, before the payment is due in April. 2024

In this regard, “Hia Hor” has pledged shares of Gratitude Infinite Company (GIFT) as collateral for the loan, amounting to 16 million shares (par value 1 baht), which ZIGA agrees to keep all shares in its own account only, and the borrower agrees. Payment according to the loan contract It’s a Bangkok Bank check, number 06792914, amounting to 117 million baht, dated March 2, 2024, and paying expenses and processing fees for transferring shares back. It is a Bangkok Bank check, number 06792915, amount 2.6 million baht, dated 2 March 2024, which both checks have been delivered to ZIGA.

ZIGA’s Chief Executive Officer said that for this year’s operating results of ZIGA, it is expected to turn around and turn into a profit from 2022. In the past, the company had a net loss of approximately 380 million baht as a result of special items. The second half of 2023 will see the company’s performance improve. from the main business Better (electrical conduit) sells better products. and steel costs decreased Better selling price The company will penetrate more markets with high margins.

“The company plans to wipe out accumulated losses of around 110 million baht, but it probably won’t be wiped out completely this year. in order to be able to turn around and pay dividends to shareholders But cash flow is a different matter.”

As for the Bitcoin mining business The company has 200 mining machines that use solar cells to mine coins. Now there are only a few coins left. Because the coins were sold in the 2nd quarter of 2023 at a price of around 30,000 USD/Bitcoin. Right now the price is around 25-26 thousand USD/Bitcoin.

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